Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on October 12, 2009

Locking Stance: LOCKING    Mortgage Bonds: 0bp

Mortgage backed securities are not trading today, which is likely a good thing considering stocks are higher today, there are talks from Big Ben Bernanke and other Feds like Bullard, about the risks of inflation, and the momentum is currently for lower MBS prices after Friday’s drop.

So, thank Columbus for discovering America and also for allowing the mortgage bond market to take a breather.

As for the rest of the week, well, things are not looking very good.  I outlined my weekly forecast over at Lenderama in my weekly Mortgage Market Update.  Beyond that, the fun begins tomorrow, so check back here for the latest on the direction of mortgage rates for the foreseeable future.

What does this mean for Florida Mortgage Rates?  Mortgage rates will not change today, but may resume their rise tomorrow.  The outlook is not certain, but it appears that higher mortgage rates are on the way.

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